NEW YORK: Mobile adspend will double in the US between 2008 and 2010, with text messaging likely to be the main tool employed by marketers using the medium, and growing by over 40% both this year and next, according figures from JPMorgan.
The company predicts advertising spend on text messaging will rise by 40% this year to $2.0 billion (€1.6bn; £1.4bn), and by 45%, to $2.9bn, in 2010.
Display ads on mobile phones will also see revenues expand by 20% to $94m this year, while mobile search expenditure will grow by 30% to $129m over the whole of 2009.
A recent report from Limbo and Gfk also found that 41% of iPhone users in the US recalled ads they had seen on their mobile phones, compared with 33% of consumers using other types of cellphone.
By contrast, it reported that TV ads had an average recall rate of 10%, rising to 21% for streaming video, and reaching a high of 68% for podcasts.
Data sourced from Washington Post; additional content by WARC staff